Professional Roles: Thornburg Investment Management, Putnam Investments Education: MBA, The University of Chicago Booth School of Business Education: BA, Economics, Computer Science, Amherst College Certification: Chartered Financial Analyst
For the better part of fifteen years, investors have read the Fed's intentions through one number: Core PCE. It became the formal benchmark for the 2% inflation target in 2012, and ever since, the...
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There's a version of the investment conversation that goes something like this: “equities for growth, alternatives for excitement, and bonds left over for investors who've already won (and are now...
If you've ever heard the phrase "private equity" and immediately pictured a room full of suits in a Manhattan high-rise loading up a perfectly good business with debt, slashing headcount, and then...
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Howard Marks has a great investing concept called “second-level thinking.” It’s the idea that superior results come not from knowing what everyone else knows, but rather from seeing things...
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One of my favorite Seinfeld standup routines compared “Morning Jerry” or “Nighttime Jerry.” Well-rested Morning Jerry was rational and responsible; he made decisions that benefitted himself in the...
Why We Believe SMID Cap Core Can Beat Separate Small & Mid Allocations Many investors instinctively split their equity sleeve into a “small-cap fund” and a “mid-cap fund,” assuming that...
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At dinner the other night, my youngest daughter asked what I actually do all day in my office. I work from home pretty often, so from her perspective, I just disappear behind a closed door for hours...
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Connor and I both majored in economics. We spent four years steeped in macro theory, poring over models of trade, labor, and monetary policy. Since then, we’ve found… let’s say, limited use for most...
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Around age 40, my annual checkup started including additional tests. These tests are meant to keep me healthy, but they also have the ancillary effect of stressing me out while I await the results....
9/10 is an exceptional mark in almost all applications. If a restaurant has a 9/10 on Yelp or Foursquare (yes, Foursquare is still an excellent restaurant rating app), it means the restaurant is...
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There’s a great metaphor that describes in pretty perfect detail how you should think about investing. It comes from Ralph Wanger, a legendary investor (as quoted in The Four Pillars of Investing):...
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Investing can be demanding. It can require some serious brain power… but more importantly, it’s a battle within yourself. It doesn’t matter how smart you are if you’re too emotional or too biased to...
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Like many people during the pandemic, I decided to pick up a new hobby. With basically everything shut down, and the outdoors being one of the only relatively safe spaces available to us, my quest...
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Our investment philosophy follows a fundamental belief — the stock market functions much like the classic jelly-bean-counting experiment. That might sound strange, but hear me out:
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Shrewd investors often start out with long-term financial plans designed to meet their future needs — things like saving for college, retirement, etc. But sticking with the long-term plan becomes...
One of the things that makes City Different Investments, well, different is our principled investment approach. We are doing a series of articles looking at the three tenets of our equity investment...
